The project, located in northern Alberta, is expected to have an initial production capacity of 90,000 bpd over two phases and an estimated project life of up to 40 years. The project is currently under review by regulators, according to company officials. The contract value was not disclosed.

The project, located in northern Alberta, is expected to
have an initial production capacity of 90,000 barrels per day
(bbls/d) over two phases and an estimated project life of up to 40
years.

The proposal is currently under review by regulators.

The contract value for this project was not disclosed, said
Foster Wheeler, which added that the booking will be
included in fourth-quarter 2012 figures.

Our joint venture with Three Streams Engineering was
formed specifically for the Telephone Lake project and brings
together Three Streams Engineering's familiarity with Cenovus
projects and our extensive experience in modularization and
execution of engineering projects, said Umberto della
Sala, chief operating officer of Foster Wheeler.

Our emphasis on efficient project implementation through
modularization is expected to be an important component in the
design. This joint venture expands upon our current and growing
market focus in Canada.

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